CBA launches online credit card check

By Mozo ·

The Commonwealth Bank (CBA) has upgraded its online banking platform to allow users to open savings accounts or credit cards without having to enter a branch to confirm ID checks.

Under the system, called Electronic Customer Verification, customers enter identification numbers from drivers licenses, passports or other documents before the bank confirms their identity based on databases.

CBA suggested that the initiative would make life easier for discerning customers looking to compare credit cards and other financial products.

"We are one of the first banks in Australia to offer prospective customers this functionally – and it demonstrates our commitment to offering superior customer service and to make it easier for customers to bank with us when it suits them," executive general manager of direct channels Quentin Boyes said.

He added that customers are now able to apply for a bank account in less than ten minutes without having to visit a branch.

However, George Kurtz, a global online security specialist at McAfee, told the AAP that the move could open the door to online fraudsters.

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